America First's Roth IRA may be for you if you'd prefer to pay taxes on your retirement now instead of later. Your options include opening a Roth IRA Accumulator, with no minimum deposit required; a Roth IRA Certificate with a $500 minimum deposit; and/or a Roth Dedicated Savings Account with no minimum deposit and an automatic transfer of at least $10 per month.
Benefits of Roth IRAs:
The following chart demonstrates the additional benefits of a Roth IRA:
* Based on contributions of $2,000 at the beginning of the year for 5, 10, 15, or 20 years with earnings compounded annually. Assumes proceeds are withdrawn without penalty at year-end.
Traditional IRA figures assume you are in the 28% tax bracket when the contributions are made and shows how much is available after tax if your tax rate drops, holds steady, or rises. Traditional IRA balances assume the annual tax savings were reinvested in a taxable account and combined with the IRA balance upon withdrawal.
Source: Deloitte and Touche
Which IRA is right for you? Review the chart below to see whether the Traditional or the Roth IRA will benefit you most.
A Roth IRA might be right for you.